Building Details

Building Size 18,448 SF

Year Built 1937

Buildings 1

Stories 4

Listing Agency: Signature Associates - Southfield

Listed By: Joe Stack Show Phone

Source: Cpix.resimplifi

Added: Dec 10, 2024 Changed: Aug 30 Last Checked: Aug 30 at 10:01PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Signature Associates - Southfield

Investment Insights

Based on property information with market context.

This multifamily property contains 24 apartment units within an 18,448-square-foot building constructed in 1937. The asset is currently unoccupied and is classified under R5 zoning.

The property is located at 381 Covington Dr in Detroit, Michigan, with a 48203 ZIP code. Its existing apartment configuration provides a defined residential income property profile.

Key Highlights

• 24‑unit apartment building
• 18,448 square feet
• Currently unoccupied

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Hair Salon Spa & Massage Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

386

Businesses Nearby

Explore this area Business Placement

Demographics for 48203, MI

22,168

Population

13,591

Households

1.6

Avg Household Size

39

Median Age

19%

College-Educated

85%

High-School Grad

8.2 sq mi

ZIP Area

2,703

Density / Sq Mi

$35,108

Median Household Income

$28,364

Median Earnings

$799

Median Rent

$76,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Freestanding Storefront with Loading Door

7870 SOUTHFIELD FWY, Detroit, MI 48228

$1,600,000

9,212 SF

View details

Corner Restaurant Property

19655 W Grand River Ave SW, Detroit, MI 48223

$599,000

4,614 SF

View details

Corner Flex Building with Showroom

19200 Kelly Road, Detroit, MI 48225

$150,000

10,192 SF

View details

Mixed-Use Building with Garage

820 W Baltimore Street, Detroit, MI 48202

$899,000

4,159 SF

View details

Auto Shop with Roll-Up Doors

13118 Gratiot Avenue, Detroit, MI 48205

$344,900

4,468 SF

View details

Self-Serve Car Wash With Tunnel

6700 Dix St, Detroit, MI 48209

$1,090,000

2,240 SF

View details

Retail Buildings with Income Opportunity

15000-15040 W Seven Mile Rd, Detroit, MI 48235

$549,000

9,086 SF

View details

Turnkey Restaurant with Built-In Kitchen

8140 Michigan Ave, Detroit, MI 48210

$1,299,999

4,300 SF

View details

Church Facility With Elevator

14625 Mack Ave, Detroit, MI 48215

$879,000

156,000 SF

View details

Convenience Store with Liquor Business

11585 Harper Ave, Detroit, MI 48213

$1,100,000

2,659 SF

View details

Renovated Flex Space with Studio

16813 WYOMING Street, Detroit, MI 48221

$279,900

3,100 SF

View details

Industrial Building with 2-Bay Garages

1400 W Fort St, Detroit, MI 48216

$1,500,000

4,000 SF

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Currently vacant multifamily property with R5 zoning and a 1937 construction date.

Where is this apartment building located?

The property is located at 381 Covington Dr Detroit, MI.

What are key features of this property?

This property features: 24‑unit apartment building; 18,448 square feet; Currently unoccupied